Back in my MBA days I remember being taught about price skimming.
The idea was simple.
When you launched a new product or service, you launched it at a premium price, let the early adopters pay that premium so you could recover your development costs fast, and then over time, as sales dropped, you dropped the price to the market rate.
On the face of it, it's a really appealing strategy for experts launching innovative services: sell high, get a cash injection, and then let nature (and market forces) do their worst.
There's only one problem.
And it's probably one you can see instantly...
Unless you've been under a rock for the last few years, you've no doubt heard that we live in the "new economy" and that unless we adapt our marketing to it, we're doomed. Which of course is true.
The only problem is, no-one seems too specific about what exactly this new economy is.
You know already you need to build a tribe, right? I mean you may call it your list (I tell my clients not to, for a variety of reasons), your community (better), your army of raving fans, or whatever, but you know you need to gather a bunch of people around you who care about what you have to say to them. You'll have heard that over and over again.
You also probably know that having built your tribe you need to engage with them, and the bare minimum for that is an email sequence or "autoresponder series".
The problem a lot of business owners have is that it's easy to write 20 emails, but that doesn't make an autoresponder sequence.
There’s a key thing they’re missing.
So I want to tell you what that is.
I’ve been reading. It’ll be no great shock to anyone who knows me or indeed who has followed this blog over the years. The fact is, the demise of Borders merely made way for more time sitting in Costa downloading ebooks to the Kindle app on my iPad rather than sitting in Starbucks leafing through paper books
But my latest read has been a “real” book. With hard covers no less!
One of the things I teach on my NLP courses is how to discover people’s strategies, that is, the little ‘programmes’ we run in our head to tell us how we feel. In terms of the selling cycle, we have strategies to tell us when it’s time to do some research (our “motivation” strategy), when it’s time to buy (our “buying” strategy) and – the important bit here – when we’ve made a good purchase (our “reassurance” strategy). That last one is the strategy we run to form an OPINION.